Latest Cuba News

Melbana Energy’s Block 9 project remains on care and maintenance after a partner default and US sanctions on CUPET, despite improved geological understanding from Amistad-2. The company ended FY2026 with $472,504 in cash and warned that additional funding is required to continue.

Melbana Energy halts direct involvement in its Cuban Block 9 project following US sanctions on CUPET, its contractual counterparty, while it seeks legal clarity on the complex regulatory landscape.

Antilles Gold’s Cuban joint venture Minera La Victoria has been designated a US Specially Designated National, forcing suspension of management and mine construction activities while the company seeks a resolution.

Antilles Gold’s Cuban joint venture Minera La Victoria has been hit with US sanctions, prompting a suspension of the company’s direct involvement and halting trading of its shares and options.

Melbana Energy is poised to resume 100% ownership of its Cuban Block 9 after its partner Sonangol defaulted on US$23.5 million in cash calls. Fresh seismic data and well results have refined reservoir understanding, derisking future drilling plans.

Antilles Gold has ramped up construction at its Nueva Sabana gold-copper mine in Cuba, with a $35 million funding package in place and production slated for early 2027. The company is also progressing pre-development and exploration activities on multiple Cuban concessions.

Antilles Gold has secured $2 million through a share placement to a Chinese investor, strengthening funding for the Nueva Sabana mine construction in Cuba. The capital injection increases the joint venture loan and highlights ongoing financial manoeuvres ahead of mine commissioning.

Melbana Energy Limited’s March quarter report details modest crude production from the Alameda-2 well in Cuba and ongoing preparations for the Amistad-11 drilling, which remains on hold due to a joint partner’s funding default. The company holds $2 million in cash and continues to process seismic data to refine its subsurface models.

Melbana Energy’s Q4 2025 report reveals a complex quarter with drilling setbacks in Cuba due to partner payment issues, alongside significant resource upgrades offshore Australia.

Antilles Gold has officially commenced construction on its Nueva Sabana copper-gold mine in Cuba, backed by a $35 million funding package and a $29.5 million EPC contract with Shandong Xinhai Mining. Initial gold production is targeted for early 2027, promising strong financial returns.

Antilles Gold has received an interim distribution of A$3.25 million from the liquidation of a former subsidiary, directing these funds to support construction of its Nueva Sabana copper-gold mine in Cuba.

Melbana Energy has postponed drilling the Amistad-11 well in Cuba after joint venture partner Sonangol failed to meet payment obligations, triggering a formal Notice of Default.